South Korea’s won rallied, extending its weekly advance, as odds for further monetary policy easing receded after central bank Governor Lee Ju Yeol said the current interest rate is supportive for the economy.

While the economy will gradually improve in the coming months, uncertainties such as slowing growth in China and emerging-market instabilities remain, the central bank said in a statement after keeping the seven-day repurchase rate at a record-low 1.5 percent. “I don’t think Korea’s economy will slow to near 2 percent,” Lee told reporters after the decision. Friday’s move was predicted by 16 of 18 economists surveyed by Bloomberg. Two had forecast a cut to 1.25 percent.

The won strengthened 0.8 percent to close at 1,184.46 a dollar in Seoul, taking its gain for the week to 0.7 percent, data compiled by Bloomberg show. The currency rose to 1,181.54 earlier, its strongest level since Sept. 2. It dropped to 1,208.72 on Tuesday, the weakest level since 2010.

Four rate reductions by the BOK since August 2014 have failed to boost Asia’s fourth-largest economy. The central bank forecast in July that gross domestic product will increase 2.8 percent in 2015, higher than the median estimate for 2.6 percent among economists surveyed by Bloomberg. Friday’s rate decision was unanimous, Lee said.

South Korea’s exports slumped in August by the most since 2009 and have contracted every month this year. “Korea’s exports remain sluggish but domestic economic indicators including consumption are showing improvement,” Lee said.